9:24 pm, April 30th | by Amy Tennery
William Cohan, author and Goldman Sachs aficionado, was on “The Daily Show” and he had some choice things to say about the “vampire squid” of finance (tip of the hat to Taibbi). Cohan is releasing a compendium on Goldman’s role in the financial collapse (and it’s role in our hearts and minds), called “Money and Power: How Goldman Sachs Came to Rule the World.” “They’re a collection of very smart people who were put on earth to make money,” Cohan said. Oh dear. None of us are safe?
12:55 pm, April 30th | by Amy Tennery
Amazon CEO Jeff Bezos might have an $81,840 salary, but his security costs are through the roof, according to Business Insider, which points out that Bezos’ safety detail cost $1.6 million last year. This naturally begs the question: Does Bezos really feel that unsafe?
Luckily, a statement from Amazon clears the air… sort of:
“We believe that the amount of the reported security expenses is especially reasonable in light of Mr. Bezos’ low salary and the fact that he has never received any stock-based compensation.”
To be fair, Bezos’ security expenses likely are equal to, if not less than, many other high-profile CEOs’. Still, this situation raises a couple of issues.
9:00 am, April 30th | by Hillary Reinsberg
The day. has. come.
Styleite might have had Kate, Wills and the Wedding of the Century — but we have Warren Buffett and the Woodstock of Capitalism: the annual Berkshire Hathaway Stockholder Conference.
Why do we care?
Because the company’s army of investors have flocked to Omaha, Nebraska where they’ll hear Warren Buffett make jokes, get some answers on the recent David Sokol controversy, and also attend picnics and steak dinners and get shopping discounts. We know you want to be there, but in the unfortunate event you didn’t make it, here’s your highly-detailed guide to attending the Berkshire Hathaway Stockholder Conference vicariously.
10:37 pm, April 29th | by Amy Tennery
The masses are already descending upon Omaha for an event so momentous it’s like the lunar landing and the Beatles’ U.S. debut all rolled into one: The annual Berkshire Hathaway Stockholder Conference.
Don’t laugh. This event is rare opportunity to hear the Oracle of Omaha, himself, talk — a lot. Warren Buffett holds an epic, multi-hour Q & A session every year, which we imagine is something like listening to Steven Tyler explain why he’s awesome. But better.
And while this year’s conference is tinged with a bit of scandal, it’s a fantastic opportunity to engage in a little gawky, under-the-table wagering on what might transpire. Why wouldn’t you? It’s more fun than Vegas!
So, without further ado, we present the Mogulite Berkshire Hathaway Oddsmaker. We hope this will help you place your bets for the coming weekend.
5:11 pm, April 29th | by Mogulite
Welcome to Mogulite’s regular column tracking the moguls who play as hard as they work. From charities to parties and from St. Barths to Davos, we leave no stone unturned. Eat your heart out, Robin Leach.
– David Koch went black tie with diamond and real estate power couple Stephanie Winston Wolkoff and David Wolkoff in support of the Turnaround for Children Impact Awards in NYC. Chanel sponsored the dinner and also dressed every celeb and socialite attendee they could get their matelasse hands on.
– Fazle Husain, sugar baby Emilia Fanjul Pfeifler and diamond scion Gregory Kwiat danced under the dinosaurs at the American Museum of Natural History’s annual Museum Dance.
4:17 pm, April 29th | by Amy Tennery
His best man is Clint Eastwood, his wedding reception planner is “This Is It” director Kenny Ortega and his rehearsal dinner is actually a pool party. Yes, ladies and gentlemen, the $10 million Steve Wynn wedding is upon on us.
Las Vegas Weekly blogger Robin Leach (yes, that Robin Leach), has lots of details on Wynn and fiance Andrea Hissom’s nuptials, including this touching anecdote:
The tie-the-knot festivities get underway [tonight] for nearly 500 couples with a white-fashion pool party at his Encore [hotel] tonight. Donald Trump has promised to attend before jetting off early morning for The White House Correspondents Dinner in Washington, D.C.
Aw, Trump. What a mensch.
“The emphasis is all about fun,” Wynn said, before adding that he (allegedly) wants to keep the actual ceremony a private affair.
3:04 pm, April 29th | by Amy Tennery
Who needs a reporter to impersonate you, when you can make terrible PR moves all by yourself?
David and Charles Koch have reignited a smear campaign against reporter Jane Mayer over an unflattering profile she wrote of the brothers for the New Yorker… last August.
The duo’s lawyer has reportedly penned a fiery letter to the American Society of Magazine Editors, according to Gawker, after it nominated her piece for a National Magazine Award.
1:31 pm, April 29th | by Hillary Reinsberg
Is the crown prince of Wall Street getting ready to pass the torch? With almost five years under his belt, Lloyd Blankfein is closing in on the typical length for a reign as Goldman Sachs’ CEO, notes CNBC. Is it time for a transfer of power?
Obviously, it’s been a trying five years, what with that whole financial crisis nonsense — which is why it seems industry insiders are already placing bets on when Blankfein will bow out. CNBC says Wall Streeters are also abuzz about who could take the top spot.
Their top picks are (unsurprisingly) members of Blankfein’s inner circle.
1:18 pm, April 29th | by Hillary Reinsberg and Amy Tennery
We know what you’re thinking: Mogulite, you’re the only blog for me! We’re flattered. But we’re also firm believers that there’s a wide world of mogul-minded scribes you better be following if you’re a titan of industry — or even just an aspiring one. With that in mind, we’ve compiled a list of the can’t-miss bloggers that need to be on your radar, stat.
11:38 am, April 29th | by Hillary Reinsberg
So much to do, and so little time! Jeffrey Immelt, CEO of General Electric, has resigned from his spot on the board of directors of the New York Federal Reserve Bank, because he’s simply too busy, Dealbook reports.
In a letter of resignation, Immelt said that he was stepping down “given increased demands on my time,” namely given his new post as Chair of the President’s Jobs and Competitiveness Council. We also assume that his resume was getting longer than a page and maybe he was worried that might look tacky.
Immelt’s letter is dated March 9, but the New York Fed waited until yesterday to make the announcement.